2 Jan 2020 07:00
UPDATE REGARDING PROPOSED TRANSACTION AND ANNUAL GENERAL MEETING
Atlas Mara Limited ("Atlas Mara" or "the Company") announced on 30 April 2019 that it had entered into a binding term sheet pursuant to which Atlas Mara agreed to the exchange of certain banking assets in four countries for shares in Equity Group Holdings Plc ("EGH"). On 30 September 2019, Atlas Mara noted that confirmatory due diligence has been substantially concluded.
As of the date of this announcement, the parties have yet to sign detailed transaction agreements. While there is no assurance that the potential transaction will be concluded on the terms previously announced, the parties continue to be engaged in discussions, with the objective to reach mutually-acceptable terms as soon as practicable in early 2020. The Company will provide any further update to the market in due course.
The Company also announces that its next Annual General Meeting will be held in May 2020. Customary formal notice of the meeting including the date, time and location will be circulated to shareholders in due course. The articles of association of the Company require the approval of the holders of a majority of the ordinary shares in the Company to hold an Annual General Meeting no more than 15 months after the prior Annual General Meeting, which was held on 29 August 2018. The Company has received the necessary approval. Atlas Mara will circulate a written resolution to all holders of ordinary shares, as required by its articles of association.
Contacts
Investors
Kojo Dufu, +1 212 883 4330
Media
Anthony Silverman, Apella Advisors
+44 (0)7818 036 579